ITIC warns on fraudulent diversion of funds
- Date: 13/03/2015
International Transport Intermediaries Club (ITIC) says fraudulent diversion of funds is on the increase in the maritime sector.
Having previously issued a warning about the fraudulent diversion of port expenses, ITIC says it is now seeing evidence of similar frauds being perpetrated across the wider marine industry. In a typical such fraud, the party due to make a payment will receive a bogus message altering the recipient’s bank details. Examples have included the diversion of ship agents’ disbursements accounts. Ship managers are also among those who have been targeted.
The email addresses used by the fraudsters are only very slightly different to the genuine ones – perhaps a single letter being omitted. ITIC, noting that it is very difficult to spot these differences, says, “Any message changing account details should be regarded with suspicion, and steps taken to secure independent verification of instructions.
“By way of example, one shipbroker managed to frustrate an attempt to divert monthly hire payments by telephoning an owner’s accounts department to verify whether or not a request to forward funds was genuine. It wasn’t. The check should not involve replying to the suspect email, but rather using a different channel of communication or, at the very least, re-entering the email address copied from a message known to be genuine.”
ITIC Press Release PR0215
- ITIC is managed by Thomas Miller. More details about the club and the services it offers can be found on ITIC’s website at www.itic-insure.com
|For more information:||Issued by:|
|Charlotte Kirk||Chris Hewer|
|ITIC||Merlin Corporate Communications|
|Tel: +44 (0)20 7338 0150||Tel: +44 (0)1903 50 20 50|
|Fax: +44 (0)20 7338 0151||Fax: +44 (0)1903 50 02 72|
- Hellas HiLights January 2020 - this vibrant publication outlines some of our updates from Greece! Read it here >… https://t.co/KRGmxHIomZ
- European Commission: A.P. Møller Capital Gets Green Light for Port Terminals in West Africa >… https://t.co/rdKCpNopEb
- Not signed up to TM connect? Email your usual Club contact to find out how you could be making your insurance manag… https://t.co/QXF0kS1Go8